Loyal Valuation, Funding & Investors

Loyal is valued at $283M as of March 2024.

See full Loyal profile

Last Loyal valuation

$283M

Series B · Mar 2024

Last Loyal funding round

$100M

Series C · Feb 2026

Cumulative funding Loyal raised

$225M

across 6 funding rounds

Key investors in Loyal

  • Collaborative Fund
  • First Round Capital
  • BoxGroup
  • The Longevity Fund
  • Khosla Ventures
  • Valor Equity Partners

Loyal Overview

About Loyal

Loyal is a biotechnology firm developing small-molecule drugs to extend healthy lifespan in dogs by targeting aging pathways like insulin signaling. Headquartered in San Francisco, California, the company founded in 2020 conducts clinical trials for LOY-001, an oral tablet aimed at large-breed dogs over seven years old. Loyal collaborates with veterinary clinics nationwide and plans FDA submission in 2024. Its pipeline includes therapies for kidney disease and heart conditions linked to canine aging processes.


Founded

2019

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$283M (Mar 2024)

Loyal Valuation

Loyal is currently valued at $283M, based on its Series B in March 2024.

The $45M round was led by Bain Capital Ventures, with participation from Andrea (Andy) Coravos, First Round Capital, The Todd & Rahul Angel Fund, BoxGroup, Khosla Ventures and 3 other investors.

Loyal valuation by funding round

Loyal valuation by funding round
DateStageValuation
Mar 2024Series B$283M

Loyal Funding History

Loyal has raised a total of $225M across 6 funding rounds.

Loyal's first fundraising round was a $11M seed round in January 2020. The most recent completed round was a $100M Series C in February 2026.

Loyal funding rounds

Loyal funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2026Series Cage1 (lead); Baillie Gifford; The Longevity Fund; Invariantes Fund$100M-Loyal is a clinical-stage animal health company founded in late 2019 by Celine Halioua, developing lifespan extension drugs for dogs. The company's lead program, LOY-002, is designed to extend healthy lifespan in senior dogs and is advancing toward FDA Expanded Conditional Approval (XCA). Loyal announced a $100M Series C funding round on February 11, 2026, led by age1 (the next generation of Laura Deming's Longevity Fund), with participation from Baillie Gifford and existing investors. This brought total investment in the company to over $250M since founding. The Series C proceeds will support final regulatory work for LOY-002, continued platform investment, team expansion, and preparation for commercial launch. As of the announcement, Loyal had completed two of three major requirements for LOY-002's XCA application and completed enrollment in its pivotal STAY trial, the largest clinical trial in veterinary medicine history, following 1,300 dogs across 70 veterinary clinics nationwide. The company planned to submit the final major regulatory requirement for FDA XCA review later in 2026, representing a transition from late-stage development toward market readiness for the first FDA-approved drug for canine lifespan extension.
Feb 2025Series BCollaborative Fund (lead); Valor Equity Partners (lead)$22M-Loyal is a San Francisco-based biotechnology company developing longevity-focused veterinary pharmaceuticals to extend pet lifespans, with products in clinical trials. The Series B-2 round on February 26, 2025 raised $22M led by Collaborative Fund and Valor Equity Partners to advance clinical programs and prepare for commercialization. This follows prior rounds including $20M Series A in April 2022 and $45M Series B in March 2024 led by Bain Capital Ventures, plus $12M debt financing, bringing total funding to $137M.
Mar 2024Series BBain Capital Ventures (lead); Andrea (Andy) Coravos; First Round Capital; The Todd & Rahul Angel Fund; BoxGroup; Khosla Ventures; Collaborative Fund; Valor Equity Partners; Quiet Capital$45M$283MLoyal is a biotech company developing longevity drugs for dogs, targeting mechanisms of aging to extend healthy lifespan and improve quality of life. The company has three drugs in development: LOY-001 and LOY-003 for large-breed dogs, and LOY-002 for senior dogs over 14 pounds. LOY-001 received the first-ever FDA acceptance for Reasonable Expectation of Effectiveness prior to the round. Founded in 2019, Loyal announced its $45 million Series B funding round on March 21, 2024, led by Bain Capital Ventures, with participation from existing investors including Khosla Ventures, First Round Capital, BoxGroup, Collaborative Fund, Quiet Capital, and The Todd & Rahul Angel Fund, plus new investor Valor Equity Partners. This brought total funding to over $125 million, including a $12 million credit facility from Bridge Bank. The Series B funds are designated to support large-scale clinical trials, advance the drug development pipeline, and prepare for product launches expected in early 2025 pending FDA approval. Investors highlighted Loyal's progress toward FDA-approved longevity medicines for the 65 million U.S. dog-owning households. Post-Series B, Loyal raised additional funds including a $22 million Series B-II in late 2024 or early 2025 led by Collaborative Fund and Valor Equity Partners, bringing total raised to around $137 million.
Apr 2022Series A-$20M-Loyal is a biotechnology company focused on developing therapies to extend the healthy lifespan of dogs, particularly senior dogs, through veterinary medicine and clinical trials. In April 2022, the company raised $20M in a Series A extension round to continue research and prepare for clinical trials. This followed a $27M Series A in September 2021 led by Khosla Ventures and a seed round of $11M in January 2020. Subsequent rounds include a $45M Series B in March 2024 led by Bain Capital Ventures and a $22M Series B-2 in February 2025 with Collaborative Fund and Valor Equity Partners, funding clinical trials and commercialization. Later developments feature a Series C in February 2026 at $614.38MM valuation and additional 2024 tranches around $282.57MM valuation marks.
Sep 2021Series AKhosla Ventures (lead); First Round Capital; BoxGroup; The Longevity Fund; Predictive; Claire Hughes Johnson; Collaborative Fund; Brianne Kimmel; Ashley Mayer; Quiet Capital$27M-Loyal, founded in 2019 by CEO Celine Halioua as Cellular Longevity, Inc., develops therapeutics to extend lifespan and healthspan in dogs, starting with products for large breed dogs and cognitive function improvement, aiming for FDA approval via clinical studies. The company raised $27 million in a Series A round on September 23, 2021, led by Khosla Ventures, with participation from First Round Capital, BoxGroup, Collaborative Fund, The Longevity Fund, and angels including Ashley Mayer, Brianne Kimmel, Claire Hughes Johnson, and others from its prior $11 million seed. Total funding at the time reached $38 million, used to expand from a team of three to 30, build a computational biology team, advance clinical trials, and eventually launch direct-to-consumer and veterinary sales. Khosla Ventures partner Alexander Morgan highlighted the pet market's scale and dogs' role as models for human health research. No valuation, revenue, or financial metrics beyond round size were publicly disclosed for this round.
Jan 2020SeedVillage Global; Edward Lando; First Round Capital; Pareto Holdings; BoxGroup; The Longevity Fund; Claire Hughes Johnson; Collaborative Fund; Brianne Kimmel; Ashley Mayer; Bossa Invest$11M-Loyal raised $11 million in a seed round in January 2020 to kickstart research and development in biotechnology for extending dog lifespans. Investors included Ashley Mayer, Bossa Invest, BoxGroup, Brianne Kimmel, Claire Hughes Johnson, Collaborative Fund, Edward Lando, First Round Capital, Pareto Holdings, The Longevity Fund, and Village Global. The company, founded by Celine Halioua, targets genetic causes of aging in specific dog breeds to extend median lifespans by 6 months to 3 years. Loyal develops drugs addressing breed-specific diseases like hip dysplasia in German Shepherds and cancer in Golden Retrievers, aiming for anti-aging effects. The startup planned trials on two treatments in the following year after the round.

Who has invested in Loyal?

21 investors have backed Loyal across its funding rounds, including Collaborative Fund, First Round Capital, BoxGroup, The Longevity Fund, Khosla Ventures and Valor Equity Partners.

Lead investors include age1, Collaborative Fund, Valor Equity Partners, Bain Capital Ventures and Khosla Ventures.


Loyal Investors

Investors in Loyal by funding rounds participated
InvestorHQRoundsRoleFirst check
Collaborative FundUnited StatesNew York City, NY4LeadJan 2020
First Round CapitalUnited StatesPhiladelphia, PA3ParticipantJan 2020
BoxGroupUnited StatesNew York City, NY3ParticipantJan 2020
The Longevity FundUnited StatesSan Francisco, CA3ParticipantJan 2020
Khosla VenturesUnited StatesSan Francisco, CA2LeadSep 2021
Claire Hughes JohnsonUnited StatesSan Francisco, CA2ParticipantJan 2020
Valor Equity PartnersUnited StatesChicago, IL2LeadMar 2024
Brianne KimmelUnited StatesSan Francisco, CA2ParticipantJan 2020
Ashley MayerUnited StatesSan Francisco, CA2ParticipantJan 2020
Quiet CapitalUnited StatesSan Francisco, CA2ParticipantSep 2021
Baillie GiffordUnited KingdomEdinburgh1ParticipantFeb 2026
Village GlobalUnited StatesLos Angeles, CA1ParticipantJan 2020
Edward LandoUnited StatesMiami, FL1ParticipantJan 2020

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Loyal Competitors

Loyal competitors include listed companies like Northwest Biotherapeutics, Racura Oncology and Tiansheng Pharmaceutical, and private ones like AZTherapies, City Therapeutics and AmplifyBio.

Public and private companies comparable to Loyal
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Northwest BiotherapeuticsUnited StatesUnited StatesPublicly listed$1M($50M)$282M-
Racura OncologyAustraliaAustraliaPublicly listed$2M($8M)$282M127.8x
Tiansheng PharmaceuticalChinaChinaPublicly listed$77M$10M$282M-
AZTherapiesUnited StatesBoston, MAPrivate--$285M-
City TherapeuticsUnited StatesUnited StatesPrivate--$281M-
AmplifyBioUnited StatesColumbus, OHPrivate--$280M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Northwest Biotherapeutics$1M($50M)252.9x-(7.0x)(5.7x)
Racura Oncology$2M($8M)127.8x127.8x(31.7x)(74.9x)
Tiansheng Pharmaceutical$77M$10M3.8x-30.3x-
Pyxis Oncology$14M($77M)19.6x68.3x(3.5x)-
Antibiotice$141M$26M2.5x-13.8x-
Polaris Group$1M($111M)220.1x-(2.5x)-
PegBio-($31M)--(7.1x)-
Fulcrum Therapeutics-($73M)----

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Common questions about Loyal

When was Loyal founded?Loyal was founded in 2019.
Where is Loyal headquartered?Loyal is headquartered in San Francisco, CA, United States.
Is Loyal publicly listed?No, Loyal is a private, VC-backed company.
What is Loyal's valuation?Loyal was last valued at $283M in its Series B in March 2024.
How much funding has Loyal raised?Loyal has raised $225M across 6 funding rounds.
What was Loyal's last funding round?Loyal's last funding round was a $100M Series C in February 2026, led by age1.
Who are Loyal's investors?Loyal's investors include Collaborative Fund, First Round Capital, BoxGroup, The Longevity Fund, Khosla Ventures, Claire Hughes Johnson, Valor Equity Partners, Brianne Kimmel, Ashley Mayer, Quiet Capital and 11 others.
Which companies are comparable to Loyal?Companies comparable to Loyal include Northwest Biotherapeutics, Racura Oncology, Tiansheng Pharmaceutical, AZTherapies, City Therapeutics and AmplifyBio.

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